Citic Seeks to Secure Metal in Chinese Port of Qingdao

Alleged Fraud Being Investigated

One of China's most important financial companies moved to secure metals at a warehouse while concerns about fraud in commodities markets spread to a second Chinese port.

State-owned Citic Resources Holdings Ltd. said Tuesday it has applied to courts in the port city of Qingdao to secure metal assets it owns in warehouses, as concerns mount over the use of commodities for financing in China. Citic Resources' parent is Citic Group,...